India and Russia are exploring the idea of a dynamic reference rate to start a rupee-rouble market, along with allowing greater deployment of the rupee balance that has accumulated in course of trade between the two countries since outbreak of the Ukraine war. A reference or exchange rate is aimed at overcoming the dollar trade … Read more
Iran’s president-elect Masoud Pezeshkian said he looks forward to improved relations with European nations, even though he accused them of reneging on commitments to mitigate the impact of US sanctions. Pezeshkian on July 6 won a runoff election against ultraconservative Saeed Jalili. The 69-year-old has called for “constructive relations” with Western countries to “get Iran … Read more
Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of US sanctions. The Shenzhen-based company reported a net profit of 87 billion yuan (USD 12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10 per … Read more
